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TMI Blog2016 (6) TMI 110X X X X Extracts X X X X X X X X Extracts X X X X ..... g an assessment order under Section 143 (3) of the Act, and the said income could have been treated as business income. Having failed to do so, the assessing officer could not have exercised jurisdiction under Section 147 of the Act beyond a period of four years. Even otherwise, as has been rightly held by the Tribunal, jurisdiction under Section 147 of the Act cannot be exercised for a mere change of opinion. We find no error in the order of the Tribunal, much less a substantial question of law, necessitating interference in this appeal. - Decided in favour of assessee. - I.T.T.A.No.372 of 2015 - - - Dated:- 18-11-2015 - SRI RAMESH RANGANATHAN AND SRI M.SEETHARAMA MURTI, JJ. FOR THE PETITIONER : NARASIMHA SARMA ORDER : (per Ho ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Commissioner of Income Tax (Appeals). By his order dated 19.08.2013, the Commissioner of Income Tax (Appeals) held that the period of four years, from the end of the assessment year 2005-06, expired on 31.03.2010; and the notice, under Section 148 of the Act, was issued on 04.03.2011 after expiry of the period of four years. On the ground that the assessment could not be reopened beyond the period of four years, stipulated under the proviso to Section 147 of the Act, the order of the assessing officer was set aside and the appeal allowed. Aggrieved thereby, the Revenue carried the matter in appeal to the ITAT. In the order under appeal, the ITAT, relying on the judgments of the Mumbai High Court in Board of Control For Cricket in In ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ble to tax, has escaped assessment he may, subject to the provisions of Section 148 to 153, assess or re-assess such income and also any other income chargeable to tax which has escaped assessment and which comes to his notice subsequently in the course of the proceedings under this Section for the assessment year concerned. Under the proviso thereto, where assessment under Sub-Section (3) of Section 143 or Section 147 of the Act has been made for the relevant assessment year, no action shall be taken under Section 147 of the Act after expiry of four years from the end of the relevant assessment, unless any income chargeable to tax has escaped assessment by reason of the failure on the part of the assessee to make a return under Section 139 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ary for that assessment. As has been noted, both by the Commissioner of Income Tax (Appeals) and the Tribunal, the order passed by the assessing officer, under Section 143 (3) of the Act, records the claim of the assessee that the sale of land was liable to tax as capital gains. It is not even the case of the assessing officer that the assessee had failed to disclose all material and necessary facts and, as a result, income has escaped assessment. The assessee s claim that the income was liable to be taxed, under the head capital gains, could have been disallowed by the assessing officer while passing an assessment order under Section 143 (3) of the Act, and the said income could have been treated as business income. Having failed to do ..... X X X X Extracts X X X X X X X X Extracts X X X X
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